Mount Hotham

Sub Leases

A large proportion of alpine property involves the individual ownership of apartments and other building elements such as commercial areas and car parks. The present ownership mechanisms under the alpine leasehold structure that have developed over time are:

  • The owner has shares in the head lessee company. The shares give the exclusive right to use the nominated apartment, but there is no sublease:
  • The owner has shares in the head lessee company and also has a sublease giving the exclusive right to use the nominated apartment;
  • The owner has a sublease from the head lessee company giving the exclusive right to use the nominated apartment, but has no shares in the head lessee company.

The form of sublease and company structure can vary, but has become more standardised under the current leasing policy. All new head leases are now registered at the Titles Office and subleases likewise are also able to be registered.

New subleases and changes of ownership of subleases require the consent of the Board.

 

Samples of Sub Leases at Mt Hotham.

DOCXSample Form of Sub Lease (45 KB)

DOCXSample Sub Lease Constitution (81 KB)

DOCXSample Sublease Memorandum of Common Provisions (38 KB)